Having a will is the most basic step you can take in planning your estate. Without this document in place at your death, your State law dictates how to divide your material possessions, who will care for your minor children (in the absence of a surviving spouse), what age those children will receive access to their inheritance, and who will be responsible for selling or distributing your items of value. Despite these facts, nearly six in 10 adults in the U. S. still do not have a will, according to a 2017 Caring.com survey conducted by Princeton Survey Research Associates International.
According to the survey, 78% of millennials (ages 18-36), 64% of those ages 37 to 52 (Generation X) and over 40% of those ages 53 to 71 do not have a will. The problem, according to Megan L. McCann, estate planning attorney and partner at Davis & McCann, P. A., likely centers around two facts: One, young adults rarely consider the possibility of death and two, many people assume they have insufficient assets to require estate planning.
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